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Shares of Palantir Technologies (PLTR) have been on a tear in 2025, with the stock climbing 72% year-to-date and an eye-popping 403% over the past 12 months. On Thursday, June 26, Palantir surged another 0.94% and hit $148.21, marking its highest level on record. This remarkable run comes as investors continue to pile into AI and data analytics names seen as long-term infrastructure plays for the intelligence community and defense sector.
While the broader tech-heavy Nasdaq Composite Index ($NASX) has rebounded strongly this year, Palantir’s performance dwarfs the index and highlights the market’s hunger for mission-critical software vendors with geopolitical tailwinds. However, with stretched valuation multiples and a forward price-earnings ratio approaching 400x, the question now is whether Palantir’s fundamentals can keep up with its soaring share price.
